Eli5: Why can’t you just double your losses every time you gamble on a thing with roughly 50% chance to make a profit

Question

This is probably really stupid but why cant I bet 100 on a close sports game game for example and if I lose bet 200 on the next one, it’s 50/50 so eventually I’ll win and make a profit

In: 4566

Answer 1

There is always the chance where you either come across a losing streak bad enough to deplete your entire bankroll, or/and require bet sizes large enough that the casino/sports book won’t accept them anymore.

Once that happens, the strategy falls apart and you’re left with a massive loss.